Stock Plunged on Trump Worries

Stocks plunged on Wednesday, recording their worst day of the year, as concerns about President Donald Trump’s FBI controversy weighed on investor sentiment. At close, the Dow Jones Industrial Average dropped 372.82 points, or 1.78%, to 20,606.93. The S&P 500 fell 43.64 points, or 1.82%, to 2,357.03. The Nasdaq Composite lost 158.63 points, or 2.57%, to 6,011.24.

Oil prices settled at their highest level in nearly three weeks Wednesday after the EIA reported a sixth straight weekly decline in U.S. crude inventories. June West Texas Intermediate crude added 41 cents, or 0.8%, to settle at $49.07 a barrel. July Brent crude rose 56 cents, or 1.1%, to $52.21 a barrel.

In the first quarter of 2017, US consumer debt rose to $12.73 trillion, exceeding its peak in the third quarter of 2008. Student loans account for 10.6 percent of that total, up from 3.3 percent in 2003, while housing’s share, though still great, has fallen back to 2003 levels.

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